Compliance & Taxation
Compliance & Taxation
1. Preparation of Tax Audit
2. Preparing and filing of GSTR-9 & 9C
3. Preparing and filing of GSTR Return (GSTR-1 & 3B)
4. Preparing and filing of TDS/TCS Return
5. Preparing and filing of Income Tax Return…etc various things
Preparing and Filing of GSTR 9 & GSTR 9 C
GSTR-9 and GSTR-9C are indirect taxes of India. GSTR-9 is an annual return, which is signed by a specified authority (auditor, self or CMA) and is a reconciliation statement. An important feature of both the forms is that they can be filed only once. There is no amendment in this.
GSTR-9C is dependent on GSTR-9 annual return. Therefore auditing takes place after the annual returns. Also, taxpayers have to remember that the return can be filed only once and there is no provision to amend this return.
GSTR-9 is an annual return that is required to be filed by all registered taxpayers. GSTR-9C, on the other hand, is an annual reconciliation statement under GST which is certified by the CA and self.
GSTR 9 and GSTR 9C Exemptions : –
GSTR-9 annual return is not required to be filed by persons belonging to any one or more of the following categories of GST registered taxpayers.
- Casual person.
- Input Service Distributor.
- Non-resident person
- Persons receiving tax under Section 52 of the GST Act
- Online Information and Database Access Retrieval Service
- Entity deducting tax (TDS) under section 51 of the GST Act.
For GSTR-9C, there are the following two categories of taxpayers along with the individuals falling in the above listed category of registered taxpayers:
- Taxpayers registered under Composition Scheme.
- Taxpayers with turnover less than Rs 2 crore.
Check list to prepare GSTR-9 & 9C
A. Check sales and purchase as per audited B/s.
B. Check RCM (Reverse Chage Mechanism)
1 Paid to Advocate under 18% RCM
2 Paid to freight and cartage under GTA Act, @5%
3 Paid to Director sitting fee @18%
4 Paid to insurance/commission agent @18%
c. Check Capital goods ITC
d. Check ineligible ITC
1 vehicle Repairing & Maintenance
2 Staff welfare Expenses
3 Festival Expenses
e. Check credit & debit note
f. Check amendment invoice
g. Check ITC booked in previous year but claim next year
h. Check ITC claimed but entry not booked
i. Check ITC claimed but amendment/debit & credit not next year
j. Check all expenses related ITC which is claimed or not claimed
Note: The maximum penalty for non-filing of GSTR-9 cannot exceed 25% of the total turnover in the concerned ST/UT.